Minor's income

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Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2010 Property is in minor's name.Does the minor declare income as individual?

Rahul Gupta

Rahul Gupta (Expert)

28 April 2010 Minor income is clubbed in the income of the Guardian and is taxable accordingly.

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)

28 April 2010 minor's income to be clubed in the hands of the guardian whose income is higher.

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2010 Filling of Minor's Income
A minor need not file returns as the income is clubbed. But in following cases the filing is compulsory:
If the income is from manual labour or through talent or specified knowledge.
If the minor is covered by any of the following even the income is nil and clubbed with parents:
Owns immovable property.
Owns vehicle.
Has incurred expenditure on foreign travel.
Is a member of a club.

Can you explain this to me.Minor own's immovable property-
This article is from Indiamart Finance.Is this correct?if it is, then minor files as individual.

Rahul Gupta

Rahul Gupta (Expert)

28 April 2010 Yes in this case, mionor can file the return as Individual.